RAM FOUNDA TION
FINANCIAL STA TEMEhlTS FOR THE YEAR ENDED 31 AUGUST 2024
DIRECTOR'S REPORT
The director presents the annual report together with the financial statements for the year to 31
August 2024.
STATEMENT OF DIRECTOR'S RESPONSIBILITIES
Company law requires the directors to prepare financial statements for each financial period which give a
true and fair view of the state of the affairs of the company and of the profit or loss of the company for
that period. In preparing those financial statements the dirertors are required to
select suitable accounting policies and then apply thern consistently;
make judgements and estimates that are reasonable and prudent:
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the company will continue in business.
The director has. elected to prepare the financial statements in accordance with UK GAAP and confirm
that under company law. he. must not approve the financial statements unless he is satlsfied that
they give a true and fair view'of the state of the company's affairs and of the surplus or deficit for that
period. The reporting framework that has been applied is the Charities SORP (2015) FRS 102
The director is ￿SpOnsIble.f0r keeping proper accounting records which disclose with reasonable
accuracy at any time" the financial position of the company and to enable them to ensure the financial
statements comply with the Companies Act 2006. He is also responsible for safeguarding
the assets of the company and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
AIMS AND OBJECTIVES
The'organi5ation endeavours to carry out its purposes by working in partnership with credible NGOS
to deliver relevant projects-in partnership with the organisation to the intended beneficiaries.
Our objectives are
The advancement of education
The advancement of health or the saving of lives
The relief of those in need by reason of youth. age. ill-health, disability. financial
T.he advancement of the education and the political awareness of young people in
Northern Ireland for the public benefit by developing their mental. physical, political
and rnoral capabilitie5 through appropriate organised activities and without distinction
of. sex. sexual orientation, race or of political. religious or other opinions
' The advancement of the health and educational needs of children of any socially and/or
economically disadvantaged community for the public benefit in such countrie5 as
considered appropriate by the directors of the charity
,-The relief of those in need by reason of natural or other kinds of disaster (including
those who are victims of war) through the provision of financial assistance. for the public
benefit,. for persons. bodies, organisations and/or countries affected in such countries
as.the"directors of.the charity deem appropriate.hardship or other disadvantage
APPLICATION OF INCOME AND PROPERTY
The property of the company must. be applied for purposes in accordance with section 2 of the Charities
Act (Northern Ireland) 2008.
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RAM FOUNDA TION
FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
I)IRECTOR'S REPORT
(continued)
MEMBERSHIP
The company has one member, the initial subscriber, Mr Suneil Sharma.
Membership is open to other individuals or organisations who".
apply to the companyin the form required by the director. and
are approved by the director.
The direttor may only refuse an application for membership if, acting reasonably and properlyi they
consider it to be in the best interest5 of the company to refuse the application.
The director must inform the applicant in writing of the reasons for the refusal within. twenty one days.
of the decision. He must consider any written representations the applicant may make about the
decision and the decision following any such representations must be notified to the applicant in
writing and is final.
Membership 15 not transferable.
The director must keep a register of names and addresses of the members.
..Membership is terminated if the member dies or, if it is an organisation. ceases to exist, if the member
resigns, if any sum due by the member to the company is not paid within six monthsor if the member is
removed from membership by the director in the manner required by the comparsy'5 Articles of
Association.
RESULTS
The Net Incoming R"e50urces for the year amounted to
£10,923 .{2023:
-£13,386 )
FINANCIAL REVIEW AND RESERVES POLICY
Flinds were generated during the year from donations.
verves.at 31 August 2024 were
£130,767 all of which are readily available fiinds covering many year5,
running.costs. Currently. the core ¥OSts are minimal and are funded by the Surplus of income raised
over the direct costs. Expenditure is planned to Satisfy the objective5 of the company therefore at
.present prattically.all expense is directly for the charitable purposes durin9 the year. General fund5 are
unrestricted funds which are.available for use at the discretion of the trustees in furtherance of the
general objectives of the charity and which have not been designated for oth'er purposes.
Designated funds comprise unrestricted fund5 that have been set aside by the trustees for particular
purposes. Restricted funds are fund5 which are to be used in accordance with specific restrictions imposed
by donors or. which have been raised by the charity for particular purposes. The c05t of raising and
administering such funds are charged against the specific fund.
ACTIVITY DURING THE YEAR
. During the year the charity performed its activitie5 a5 well as was allowed given the continuing
recovery from coronavirus measures. Efforts were concentrated in providing funds to disadvantaged
communities.
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RAM FOUNDA TION
FINANCIAL STA TEMENTS FOR THE YEAR EIVDED 31 AUGUST 2024
DIRECTOR'S REPORT
(continued)
IMPACT OF COVID-19
The impact caused by COVID-19 is now very much eliminated and the effect of such disruptions in the
future, minimised.
GOING CONCERN
The director, having considered the company's income streams, financial means and strategy for dealing
with issues such as the impart of Covid-19, over the next 12-18 months, is satisified that the going
concern basis is appropriate.
FUTURE PLANS
The company's current funding and cost Structure is stable and it intends to continue in this way in the near
future so that the current services will continue to be offered where needed.
RELATED PARTIES
The company carries out no transactions with any related party.
TAX STATUS
Application has been made to have KAM Foundation registered as a charity with Inland Revenue. The
company is registered with the Charity Commission for Northern Ireland.
INDEPENDENT EXAMINER
The independent examiner, Mrs N Taylor'FIATI of Messrs Minshull & Company, Chartered Accountants
and.Statutory.Auditor,. offers herself for re-appointment as indeperldent examiner.
BY ORDER OF THE COMMIfrEE
S Sharma
DIRECTOR
Date
19 May 2025
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